My advice if you're getting Bottle Service is definitely get yourself on the guest list and get there EARLY!! I was fortunate enough to get a VIP reservation but me and my friends got there around 12pm on a Friday, so all the good VIP tables were taken and they sat us facing away from the dancefloor, where all the action ususally is!!
The music and DJ were good, but some annoying drunk girl kept trying dance on the pole runway above us and kept spilling into our VIP area. Towards the end of the night, the waitress upgraded our table and moved us over to a bigger spot closer to the dance floor but, by that point most of the people in the club had left already, so it didn't really make much of a difference.
To be honest the only reason we went to Vanity was because we were staying at the Hard Rock, so it was easy to get to and seemed like a good place for a Friday Night, but all in all, there are much better clubs/lounges in Vegas out there.